Question

received promissory note from abc supermart for the services rendered 180,000 with the term of 10% annually payable in 3 months. journal entry​

Answer 1

Answer:

so the interest is 4500 Rs.

Step-by-step explanation:

the principal money = 180000 Rs.

the annual interest rate = 10%

the time = 3/12 year

so the interest =

(180000 × 10 × 3)/100 × 12

= 5400000/1200 = 4500

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